Shares of advanced battery materials developer Solidion Technology STI swung sharply on Monday after the company announced plans to acquire a stake in SpaceX as a long-term treasury asset.
It became the latest listed firm seeking exposure to Elon Musk’s aerospace company through its balance sheet.
Solidion’s stock jumped more than 23% at one point, during premarket trading, before reversing course.
At the time of writing, the shares were down about 1.5%.
The announcement follows a similar move last week by Triller Group, suggesting that corporate treasury allocations to SpaceX are emerging as a new investment theme following the rocket company’s recent public listing.
Treasury allocation tied to long-term strategy
Solidion said the initial investment would account for a “modest” portion of its available cash, though it did not disclose the size of the allocation.
The company said the position would be held as a long-term treasury asset rather than a short-term investment.
“The allocation reflects the Company’s conviction that SpaceX represents a generational asset — the world’s leading aerospace, satellite communications, and transportation infrastructure company — with strategic relevance that extends directly to Solidion’s addressable markets, including electric vehicles, energy storage, aerospace, and defense applications,” the company said in a statement.
Management also stressed that the investment complements its core battery technology business.
“SpaceX’s Starship, Falcon, and Starlink programs represent some of the most demanding environments for next-generation battery technology — and the energy density, thermal performance, and safety characteristics required for aerospace applications are precisely the challenges Solidion’s silicon anode, graphene-enhanced, and bipolar solid-state battery technologies are engineered to address,” the company said.
“Beyond thematic alignment, the Company believes a modest SpaceX position enhances the quality of Solidion’s treasury through exposure to a high-conviction, publicly held asset.”
Chief Executive Jaymes Winters described the investment as a strategic decision rather than a speculative trade.
“SpaceX is one of the most extraordinary companies ever built — redefining what is possible in aerospace, energy, and global connectivity,” Winters said.
“This is not a speculative trade — it is a deliberate decision to place a small but meaningful vote of confidence in a company shaping the future of the industries we serve. We look forward to providing our shareholders with a window into that value creation directly through our balance sheet.”
Space ambitions extend beyond investment
The treasury announcement comes only weeks after Solidion unveiled its Generation Extreme-Climate Battery (Gen-ECB) platform, targeting batteries designed for low-Earth orbit AI data centres, satellite constellations and lunar missions.
That announcement had triggered a spectacular rally, with the company’s shares climbing more than sevenfold as investors embraced its push into space-focused battery technology ahead of SpaceX’s June 12 market debut.
The company believes future aerospace applications will increasingly require batteries capable of operating in extreme environments, creating a natural overlap with SpaceX’s expanding ambitions in launch systems, satellite communications and deep-space missions.
More companies seek SpaceX exposure
Solidion is not alone in using its balance sheet to gain exposure to SpaceX.
Last week, Triller Group announced plans to acquire a SpaceX-linked position through a wholly owned subsidiary.
According to an SEC filing, Triller agreed to acquire a Bahamian investment vehicle holding economic interests equivalent to about 3.9 million SpaceX Class A shares in a transaction valued at roughly $411 million.
The company said the purchase would be financed through a secured financing arrangement backed by the underlying position.
“SpaceX is one of the most extraordinary companies of our generation, and we are securing meaningful exposure to it at a compelling entry point and placing it at the very heart of our balance sheet,” Triller Chief Executive Wing-Fai Ng said.
Potential catalysts for SPCX
SpaceX shares have declined roughly 5% since their market debut and recently closed at $153.23, below their post-listing high of $225.64 but still above the $135 IPO price.
The stock, however, entered the week with several potential catalysts.
SpaceX joined the Russell 1000 index after Friday’s close and is scheduled to enter the Nasdaq-100 on July 7, moves that could trigger additional buying from passive index funds.
Shares rose about 1.9% in premarket trading to $156.10.
Musk also added to investor optimism after responding to a social media post suggesting SpaceX could generate $100 billion in revenue by 2028.
“I would be disappointed if SpaceX did not significantly exceed these milestones,” he wrote.
Wall Street currently forecasts revenue of roughly $103 billion in 2028, broadly in line with Musk’s comments.
The billionaire also said Grok 4.5 could outperform competing artificial intelligence models, following SpaceX’s integration of xAI earlier this year.
The post From Solidion to Triller: why are companies buying SpaceX stakes as treasury assets appeared first on Invezz
